Sony Admits To Working On Its Next Console

During a conference call to investors, Sony executive VP and CFO Masaru Kato said that "our development work is already under way" for a "future platform."

Kato was responding to a question about Sony's increased research and development costs. The quote in full reads:

“For the home equipment the PS3 still has a product life, but this is a platform business, so for the future platform – when we’ll be introducing what product I cannot discuss that – but our development work is already under way, so the costs are incurred there," Kato said.

He claims that Sony is taking a more economical approach with the next console: “It is no longer thinkable to have a huge initial financial investment like that of the PS3.”